Option Strategies: .SPX, TSLA& AMZN

Hello everyone! Today i want to share some option strategies with you!

1.

TRADE PLAN for Thursday ✅

$S&P 500(.SPX)$ price action weaker into the close. SPX dropped 100 from the highs. IF SPX can reclaim 5400 we can see 5465.

SPX 5450C best above 5400

$Tesla Motors(TSLA)$ 251 line in the sand for the upside. If TSLA can hold 251 tomorrow it can move up to 265+ by next week

TSLA 260C is best above 251

$Amazon.com(AMZN)$ to 185-188 in play if it can hold the 180 support level

AMZN May 2 185C is best above 180

2.

The biggest lessons I’ve learned as a trader is:

1. Less is more. You don’t need 20 trades a day to make money. Focus on a few high quality setups per month.

2. Averaging down will be your downfall. Most times averaging down with options will cause a bigger loss, not a bigger win. The larger the position, the bigger the emotions.

3. Size for zero. Always look at risk first before reward. Size for your max risk and you will never get emotional when trading.

4. Patience is your biggest weapon. If you know how to wait for momentum and the best trading environments, you will print money when you want.

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